Every marketer has their preferred channel that they promise will always drive results. For example, many marketers will over-rely on SEO and paid search. Using these channels, the same marketers will over-prioritize “search volumes” and “keyword difficulty” to determine which areas are the best to focus on. The issue? Well, this approach may not always yield the most effective results. However, it will push them to acknowledge that they have to shift to differentiation and market understanding.
These metrics are usually the be-all and end-all for marketers who love and abuse these channels. They’ll build a list of keywords and think “search volume is high and keyword difficulty is low.” Eventually, it all leads to an aggressive approach for market share, turning their products or services into commodities. The result? An inevitable inflation of CAC and extension of payback periods.
When any organization adopts a differentiation-focused approach, it can alter how companies approach the markets as a whole:
Understanding Market Dynamics and Customer Pain Points: Invest time and resources to understand the market you’re attempting to sell to. Specify pain points of your customers. A deep dive will help create solutions that are actually needed and valued.
Building a Strategic Narrative: When the customer challenges are understood, the next step is to develop a narrative which aligns with the market. It should educate the market and set your brand apart.
Educational Content Creation: Narrative? Check. Now, create a plan that’s tailored to educating the prospects at every stage of their buyer journey. The content should take them through a journey itself, and clearly communicate how your product or services solve their specific issues.
Scaling Through Demand Generation: Demand generation channels have to be mixed up and utilized to their strength. This will allow you to also distribute campaigns effectively. The focus should be on reaching those who benefit most from your offerings.
This strategic shift brings several advantages: Lower CAC and Improved Payback Period: When you shift focus to creating value and differentiation, the need to spend on highly competitive keywords becomes obsolete. This lowers CAC and shortens overall payback periods. In the long-term, this yields better conversion rates.
Infinite Scaling Opportunities: When looking at the future we have to keep in mind scalability – not only as a marketing department or organization, but also as a company. Differentiation will allow you and your company to leverage any channel for message distribution, not just those “dominated” by the high search volumes. You’ll see a lot more golden roads which lead to potential customers.
Enhanced SEO and Paid Search Performance: More times than not, even if it sounds crazy, not focusing and over-relying on SEO and paid search metrics can actually lead to improved performances in each area over time. The market fluctuates, and it naturally settles in. When it recognizes and values your differentiated offers, organic search results and ad effectiveness will most likely naturally improve.
SEO and paid search are valuable tools, we’re not denying that. However, they shouldn’t overshadow the importance of differentiating with various channels. Understanding the market, creating a narrative that aligns with the market, and then educating the prospects can lead to a more sustainable and competitive edge. Not only will your newly adopted approach reduce costs, but it’ll enhance overall marketing effectiveness.